Tata Steel to invest 7 million pounds in UK's Hartepool unit

NEW DELHI: Tata Steel on Thursday said it will invest 7 million pounds (over Rs 500 crore) at its Hartlepool mill in the United Kingdom to enhance the welding and material handling capability.

The 7 million pound investment will also include new cranes, handling equipment and storage at both mills, which will improve the quality of the finished product as well as customer service, the company said in a statement.

"This investment will help us to retain our position as a world-leading supplier of pipes and tubes. Investments of this kind help us to build a sustainable future in Hartlepool, which I know will be welcomed by our skilled workforce and the local community," Tata Steel's Director of Tube Business Ramsay Ross said.

The statement added that the investment forms a critical component of the company's five-year plan to increase the productivity and cost effectiveness of the Hartlepool plants.

"Preparatory work has already begun at the mills, and the installation and commissioning of the new plant and equipment is scheduled for the first six months of 2012," it added.